Chevron Corporation (NYSE:CVX) Position Raised by Golden State Wealth Management LLC

Golden State Wealth Management LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,835 shares of the oil and gas company’s stock after purchasing an additional 239 shares during the quarter. Golden State Wealth Management LLC’s holdings in Chevron were worth $1,311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter valued at $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC lifted its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Finally, IFS Advisors LLC boosted its stake in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. BNP Paribas lowered Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Piper Sandler boosted their price target on shares of Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $160.41.

Chevron Stock Performance

Shares of NYSE CVX opened at $148.23 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s 50-day moving average price is $141.16 and its two-hundred day moving average price is $148.07. The company has a market capitalization of $258.86 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.